The main method of producing alcohol is the fermentation process which involves fruits, grains, and yeasts. Wine, beer, whiskey, and vodka are various alcoholic beverages that are produced using these ingredients. The ingredients of alcohol include various flavorings, colorants, salts, and edibles that are used to manufacture the drink. Further, the rising consumption of flavored and innovative alcoholic beverages such as cocktails and beer are boosting the market growth.
The rise in consumption of alcoholic beverages across the world and rapid urbanization in emerging countries are the key driving factors that are spurring the growth of the global alcohol ingredients market. The market is growing at a significant rate due to the increasing number of pubs, clubs, and breweries which in turn is promoting the consumption of alcohol. Further, rising disposable income and the growing inclination of the millennial population towards craft beer along with the willingness of consumers to try new alcoholic beverages is also contributing to the market growth. One of the most contributing factors aiding the alcohol ingredients growth can be attributed to the rising awareness among consumers about the benefits of drinking beer.
Drinking alcohol is widely consumed as a rejuvenating & recreational drink and controlled consumption is considered beneficial in reducing the risk of heart and blood pressure-related complications which in turn creates a positive impact on the market. Furthermore, advancements in alcohol ingredients product portfolio along with easy availability of products due to rising distribution networks such as the retail sector are projected to offer lucrative opportunities in the forecast period. However, increasing consumer awareness about negative health impact on overconsumption of alcoholic beverages may limit the alcohol ingredients market growth. Consumers are seeking a healthy alternative to alcoholic beverages such as low alcoholic beverages which may impede the market growth.
The global alcohol ingredients market is divided based on product type, application, and region. Based on the product type, the global market is split into yeast, enzymes, colorants, flavors & salts, and others. The application segment consists of beer, spirits, wine, and others.
Geographically, the European region is expected to hold maximum share in the global alcohol ingredients market during the forecast period. The leading factor for the growth of alcohol ingredients in this region is the rapid expansion of the alcohol industry. Europe is the largest alcohol exporter and producer in the world owing to a growing market in some countries Germany, France, Italy, and the UK. However, Asia Pacific is anticipated to hold the second-largest position in the alcohol ingredients market and is projected to account for a significant share over the forecast period. This is attributed to the increased disposable income of consumers and rising demand for products in urban areas. China is the frontrunner of the alcohol ingredients market in the Asia Pacific region.
Crystal Pharma, Archer Daniels Midland Company, Dohler, Kerry Group plc, Ashland Global Specialty Chemicals Inc., Sensient Technologies Corporation, Synergy Flavors, Inc., Treatt, Bio Springer S.A., Cargill, Incorporated, and Chr. Hansen Holding A/S are some of the major players that are operating in the global alcohol ingredients market. The leading players operating in the market are focusing on expanding their product portfolio.
In March 2019, the Archer Daniels Midland Company announced the acquisition of Ziegler Group to build the company’s citrus flavors capabilities.
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Having a Master’s Degree in Brewing Technology and overall experience of 6 years in the field of writing, Jerri has been one of the most workaholic and dedicated team members of thefoodbeveragenews.com portal. She has been a part of this portal for 4 years now. Jerri started a career in writing with freelancing and the journey has been worth watching and appraising. She handles the Beverage Industry domain of the portal and along with her team provides all the vital and up-to-the-minute news and reports to the readers in a simple and comprehensible manner.